• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Minerals
    Tech
    Life Science
    Resource Market
    Resource News
    Resource Stocks
    • Resource Market
    • Resource News
    • Resource Stocks

    ASX Round-Up: A ‘Terrible Week’ for Resources

    Investing News Network
    Dec. 05, 2014 09:40AM PST
    Resource Investing News

    The S&P/ASX 200 lost 0.62 percent Friday to close at 5,336.70 points, but still managed to gain 0.45 percent for the week as a whole.

    Despite a disastrous day of trading on Monday, the S&P/ASX 200 (INDEXASX:XJO) managed to gain 0.45 percent for the week as a whole. However, the exchange dropped 0.62 percent Friday to close at 5,336.70 points.

    “The main story is the terrible week for energy stocks and mining stocks in general,” BBY Senior Private Client Advisor Henry Jennings told The Sydney Morning Herald.

    Mining and materials stocks lost 0.8 percent for the week, while energy stocks lost 5.36 percent as oil continued its freefall.

    Despite the week’s disappointment for resource and energy companies, there were some among the top gainers. Gold producer Medusa Mining (ASX:MML) gained 10.45 percent, or $0.07, to trade at $0.74 on Friday, while Horizon Oil (ASX:HZN) gained 5.71 percent, or $0.01, to trade at $0.185.

    It was a different story for Mount Gibson Iron (ASX:MGX). It lost the most of any company on the S&P/ASX 200 on Friday, with its share price dropping 50 percent, or $0.21, to $0.21 on the news that it has cut its sales target and decided to suspend operations at Koolan Island, which experienced heavy flooding in October.

    medusa miningasx:mgxasx:mml
    The Conversation (0)

    Go Deeper

    AI Powered
    Shiny metallic rare earth balls with text: "5 Top Australian Mining Stocks This Week."

    Top 5 Australian Mining Stocks This Week: Astron Climbs on Donald Rare Earth Project Support

    Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

    Top 5 Australian Mining Stocks This Week: Nelson Resources Soars on Deal to Advance Yarri Project

    Latest News

    Feysville Land Use Agreement Signed With Marlinyu Ghoorlie

    NAE Raises $3.75m to Advance Wagyu and Lammerlaw

    Queensland Uranium and Rare Earth Acquisition Completed

    Quimbaya Gold Announces C$10 Million Bought Deal Financing

    Gold and Crypto: Redefining the Future of Finance

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Resource Investing News Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES